Amersfoort-based foodtech startup Rival Foods, which creates plant-based whole-cut products, has raised €10 million in a Series B growth financing led by APG, on behalf of ABP.
- Founded in 2019 as a spin-off from Wageningen University and Research, Rival Foods creates whole-cut plant-based meat alternatives that authentically replicate the texture, flavor, and juiciness of animal meat.
- Their proprietary Shear Cell Technology transforms plant proteins into fibrous, layered structures using clean-label, minimally processed ingredients.
- Rival Foods’ products serve the foodservice, retail, and brand sectors, offering premium, sustainable meat substitutes that do not compromise on taste or nutrition.
- The firm operates on a B2B model, aiming to scale production while lowering costs to match traditional meat prices.
Details of the deal
- The Series B financing was led by APG Asset Management, on behalf of ABP, with participation from Pymwymic, ROM Utrecht Region, and existing investor PeakBridge.
"With this investment, our client ABP seeks to achieve strong financial returns while simultaneously reducing the environmental footprint of food consumption. We are proud to support Birgit and her excellent team as they continue to add manufacturing capacity and expand market presence," senior portfolio manager at APG, Lodewijk Meens, commented.
- The startup will use the fresh funding to double production capacity at its Geldrop facility, scale its proprietary manufacturing technology, and optimize production costs to achieve price parity with animal meat.
- Additionally, the capital will support team expansion, accelerate international growth, and foster new partnerships in foodservice and retail.
“This investment marks a major milestone in our mission to make high-quality plant-based meat mainstream. With the backing of world-class investors, we’re ready to scale fast and reshape the future of protein. We’re called Rival for a reason, we’re here to be one," claims Birgit Dekkers, CEO and founder of Rival Foods.
